A sex toy company based in Bath is to continue its quest to become the world’s leading “sexual happiness retailer” with the help of investment from a Swiss-backed London company.

Lovehoney was set up 16 years ago by Neal Slateford and Richard Longhurst, when they started selling sex toys from Mr Longhurst’s home using pooled redundancy cheques.

The business has become a global online success operating from its Bath headquarters, with sales of £76 million and profits of £9 million in Lovehoney’s last set of accounts.

But to take things forward further and take on the UK's biggest erotic brand, Ann Summer's, the decision has been made to sell a majority stake in the company to Telemos Capital, an investment company based in London but set up by Switzerland’s wealthy Jacobs family.

Telemos and Lovehoney pose after striking a deal (Image: Lovehoney)

With the backing of Telemos, Lovehoney intends to accelerate its plans for international expansion.

Do you work for or shop with Lovehoney? Got an opinion on this or another local story? Email liam.trim@reachplc.com.

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